Real Estate News Archives - Carmichael CA Homes for Sale| Carmichael Dream Homes| Craig Diez

SIT… STAY… OR PLAY THIS LABOR DAY WEEKEND!

August 30, 2019 by cdiez Leave a Comment

Labor Day Weekend is just around the corner! That’s why this month’s newsletter is dedicated to weekend events, getaways, and local happenings in and around Northern California. So whether you feel like kicking back and relaxing at home or treating yourself to an epic day trip with family and friends, we have some fun ideas on how you can “live your best life” this Labor Day Weekend!

You don’t have to leave town to enjoy the weekend… Below are some fun ways to kick-off Labor Day Weekend and the entire month of September in and around the Sacramento area!

Sacramento Events:
Sac Republic FC Schedule: Click Here For Matches
Sacramento River Cats Schedule: Click Here For Remaining Games
Now through September 19 (every Thursday): Concert Series @ El Dorado Hills Town Center
August 30 & 31: Rythmn & Blues Festival @ River Park
August 30: Hot Summer Night Concert: Kickoff to Farm and Fork Uncorked
August 31 through September 2: 29th Annual Chalk It Up Festival @ Fremont Park
August 31 (& select days in September): Farm to Fork UNCORKED 2019 @ Old Sugar Mill
September 7: Dave Matthews Band @ Golden 1
September 8 through 14: Grandparents Week @ Fairytale Town
September 11 (and select Wednesday Nights): Barn Flix: Free Outdoor Movies @ Drake’s: The Barn
September 12: Sacramento Burger Battle 2019
September 12: Mexican Independence Day Concert Celebration @ Sac State
September 14: Gather: Movies @ The Fort
September 14: The Pepper & Hot Sauce Expo in Auburn
September 14: Wild Affair @ The Sacramento Zoo
September 15: Crafts & Drafts @ Drakes: The Barn
September 17: John Mayer @ Golden 1
September 19-29: Farm-to-Fork Festival
September 19: Legends of Wine @ State Capitol
September 19: Post Malone @ Golden 1
September 21: Great American River Cleanup
September 21: 14th Annual Fair Oaks Chicken Festival
September 21: Deaf Awareness Day @ Sacramento Zoo
September 21: Sacramento Film & Music Festival @ Crest Theatre
September 21: California Brewer’s Festival @ Discovery Park
September 28 & 29: Fall Festival @ El Dorado Hill Town Center

Wanna get away? This Labor Day Weekend is the perfect opportunity to venture out and take a fun day (or weekend) trip. The great thing about Sacramento is its close proximity to places including San Francisco, Lake Tahoe and the Napa Valley Wine Region. So if you’ve found yourself daydreaming about getting away, consider escaping the heat and treating yourself to an exciting outing!

Apple Hill: Apple Hill is officially open for business! Founded in 1964 with just 16 apple ranches, Apple Hill has grown to include over 50 unique fruit and veggie farms, wineries, B&Bs, flower gardens, Christmas tree farms, and even a day spa. Get your first taste of fall by relaxing at Ponderosa Bed & Breakfast and going apple picking, visiting High Hill Ranch for fishing, pony rides and a delicious slice of pie, or grabbing an award-winning hard cider atNorth Canyon Cider Company. Check out the remaining Apple Hill destinations here!
Lake Tahoe: Lake Tahoe is the perfect escape from the summer heat with its wide array of recreational activities including boating, water sports and hiking in the summer, and skiing and snowboarding in the winter. They also have fantastic restaurants, concert venues, and shopping! Take a look at some of the local events taking place this weekend by checking out their “Labor Day Lake Tahoe Guide”.
Napa Valley: What better way to celebrate the long weekend than by taking a trip to Napa and enjoying a nice glass of wine, exceptional cuisine and mesmerizing views of vineyards…because “wine not”? Take a ride on the Napa Valley wine train and soak in breathtaking landscapes, soar above the clouds in a hot air balloon, enjoy a culinary experience at one of their many award-winning restaurants or visit one of their 400+ wineries. Click here for a list of weekend events and here for lodging accommodations.
San Francisco: San Francisco is chock-full of events this weekend! Enjoy a performance of Beach Blanket Babylon (tickets are limited), watch both the SF Giants & the Oakland A’s in action (snag your tickets here), visit one of several museum exhibits, or head across the bay to the Sausalito Arts Festival. Also, make sure to check out the free walking tours offered every day this weekend and this list of free activities and things to do in and around San Francisco.

Summer isn’t over just yet…and this weekend is the perfect excuse to fire up the grill and cook up some summer favorites! So savor the end of summer by trying one of these classics to make this your best cookout yet.

1. Labor Day Burger: Specifically named “The Labor Day Burger”, this mouth-watering burger is packed with extra flavor and punch! A juicy patty, crispy bacon, avocado, pepper flakes, and melted cheddar cheese all come together to create this delicious main. Get the recipe here.
Goat Cheese & Cherry Caprese: Make your summer plate a little lighter and more colorful with this gorgeous and easy to assemble salad filled with juicy cherries, heirloom tomatoes, and fresh goat cheese. Learn how to make it here.
Crispy Baked Zucchini Fries: A burger is not complete without some crispy fries to accompany the meal. Up your fry game with these unbelievably crispy low carb zucchini fries! Try out the recipe here.
Ice Cream S’mores: Believe us when we say this recipe will have you asking for “s’more”… Putting its own unique twist on traditional s’mores, this recipe adds a little something extra with melted chocolate and ice cream creating a cookie-like s’more. Get the recipe here.

Do you have any favorite things to do or places to see on Labor Day Weekend? Let us know in the comments section below!

Are you a Renter? It May be Time to Own Your Home.

August 15, 2019 by cdiez Leave a Comment

In the Sacramento Bee, Vincent Moleski covers in detail rental costs across Sacramento and surrounding areas. I know for myself when I rented, I would check to see what my rent could buy me as far as getting a home and having a mortgage. If you have not checked lately, it may be that time. Read on as rent prices escalate depending on area.

Rents in Sacramento grew moderately in the past year, outpacing national trends with a year-over-year growth rate of 4.1 percent and a month-over-month growth rate of two-tenths of a percent, bringing the city’s average rent to $1,401, according to RentCafe’s most recent monthly report.

RentCafe, an online real estate service and apartment listing marketplace, analyzed nationwide housing data from the month of July using the Yardi Matrix and found that average rents in Sacramento grew faster in the last year than the U.S. average, although rent in the California capital is still cheaper.

Nationwide, the average monthly cost of rent was $1,469 as of July, an increase of 3.4 percent in the last year — a bit under Sacramento’s growth rate — and 0.2 percent in the last month, which matched Sacramento’s month-over-month growth rate, according to the report.

Some pricey Sacramento suburbs saw sharp rent increases in the last month, such as Folsom — which saw the sharpest monthly price spike in the area — where the average monthly rent of $1,873 increased by 1.5 percent, Rocklin, where the average monthly rent of $1,718 increased by 1.2 percent and Roseville, where the average monthly rent of $1,790 increased by 0.9 percent, according to RentCafe.

Elk Grove’s rent costs averaged $1,753 and grew a full percentage point in the past month, while Rancho Cordova’s rent costs averaged $1,396 and grew 0.6 percent in the past month, according to the report.

Other suburbs remained relatively affordable. Rents in Carmichael average $1,205 and grew by 0.5 percent in the last month, while rents in Citrus Heights average $1,342 and grew by 0.2 percent in the last month and rents in Fair Oaks average $1,440 and grew 0.3 percent in the last month, according to RentCafe.

Davis is the most expensive place in the state to rent in, according to RentCafe, and although housing costs increased by just $2 in the past month, the average monthly rent in the Yolo County city is $2,169 — though that still beats out Bay Area prices.

San Francisco, one of the most expensive cities in the country, has an average monthly rent of $3,706, an increase of fourth-tenths of a percent from last month, while in San Jose renters can expect to pay $2,792 per month, according to the report. The only place more expensive than San Francisco is Manhattan, where renters pay $4,222 monthly on average.

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Finding Down Payment Money for Your Home

August 6, 2019 by cdiez Leave a Comment

For my family, down payment and closing costs were the toughest part of owning our next home. Making the mortgage payment was not an issue. Having the money to get started and be able to look for homes with confidence and loan in hand were a challenge. We found our help through family. That was a good day.

David Reed helps us out with more ways to find a down payment for your home. It may be time for you to stop renting. Take a read and see.

One of the biggest challenges, if not the biggest challenge, is coming up with the money for a down payment on a home. Even if someone is taking advantage of the new conventional 3.0 percent down program or the FHA mortgage, most every loan requires some sort of a down payment. While 3.0 percent doesn’t sound like a whole lot, if you’re buying your first home it usually is. On a $250,000 home, that comes out to $7,500. That’s not even mentioning closing costs. But there are sources for down payment funds that might sometimes be overlooked.

The Bank.

Okay, this is the obvious source. From a checking or a savings account, accessing readily available cash from a bank account is the most common. Consumers can save up a little each month until the minimum amount of funds needed have accrued. The lender will ask for copies of the most recent bank statements showing available funds as well as documenting the source of those funds. Most often the deposits are from an employer via direct deposit. Self-employed borrowers who do not receive a regular paycheck on the 1st and 15th will be asked to provide business bank statements as well.

A Gift.

There are those fortunate few who do receive a financial gift from a family member. Gift funds must also be tracked to make sure the funds are coming from an acceptable source. Gift funds can come from a family member, relative, or someone in a committed relationship. Lenders want to make sure the gift funds aren’t a loan that must be paid back at some point in the future. There needs to be a signed “gift letter” included with the loan file stating the amount of the gift, the donor’s name and where the funds are coming from. Lenders won’t ask for bank statements from the donor but do want to know the funds came from an account in the donor’s name.

A Retirement Account.

If someone has a retirement account with an employer such as a 401(k), that person can take out a loan against the fund. This is allowable per lending guidelines but is also subject to the employer’s approval. Most retirement funds allow for someone to borrow up to one-half of the employee’s vested balance in the account. With an IRA, first time buyers can withdraw up to $10,000 without penalty. The withdrawal will still be subject to any income tax due.

An Appraisable Asset.

If someone owns something that can be appraised by an independent third party, the proceeds when selling that asset are an acceptable source. Selling an automobile is acceptable, for instance, because it has an appraised value. Even a highly prized baseball card is an appraisable asset. It’s important to document the transaction from the initial sale to the deposit in the account.

A Down Payment Assistance Program.

Down payment assistance programs are typically overseen and/or issued by a county or state agency. Such programs typically require the borrowers’ gross monthly income to not exceed certain limits and are often available to first-time buyers. These programs can also be geographically targeted to help low to moderate-income communities flourish. Down payment assistance can come in the form of a grant, which means there is no repayment required or a loan which can be forgiven after living in the property for a certain period of time, typically three years or more.

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Mistakes Buyers Make When Searching for Their First Home, and How to Avoid Them

July 15, 2019 by cdiez Leave a Comment

Buying your first home can be a very exciting time. There is something about not having to pay rent anymore. Sometimes, with all of the different things going through a home buyers mind, we can make a mistake. Jaymi Naciri covers some of the mistakes that can be made and offers tips to avoid them.

Many starter-home purchases are driven primarily by price, which is understandable. But, there are so many other considerations involved in finding the right place, like square footage and location, to name just a few of the most consequential.

When looking for your first home, it’s critical to keep the most important considerations in mind so you don’t find yourself going down a real estate rabbit hole. Remember these common buyer mistakes to keep you on track.

Buyer mistake No. 1: Being seduced by the pretty stuff

Fresh paint, pretty throw pillows, nice bedding. They’re all decoration, and decoration can be dangerous for homebuyers. Don’t let it distract you from the house itself. How’s the floorplan? Does it work for your family? Is there enough square footage? Does the location make sense? These are among the factors that should be driving your purchase.

Buyer mistake No. 2: Searching for a home that fits your furniture

How many times have you heard a buyer on House Hunters say, “Our furniture won’t fit in here.” When you’re buying a property that costs a couple hundred thousand dollars, it’s silly to hold back over a five-year-old, $1,000 couch.

Buyer mistake No. 3: Getting too hung up on price

It’s easy to get a number stuck in your head and refuse to give up, but that figure might not be doable depending on your local real estate market. Raising your price range by $10,000 may vastly increase the available homes and may only mean another $50 per month. That’s one lunch out you can forgo to get what you really want.

Buyer mistake No. 4: Not trusting your gut

The price is right, the location is right, and the home has the right number of bedrooms and baths. But it just doesn’t feel right. You may not be able to put your finger on what it is that’s bothering you about a house, but if something’s nagging at you now, imagine what it will be like to live there. It could be your gut is trying to tell you something.

Buyer mistake No. 5: Ignoring the neighborhood

The hope is that any major problems with the home you’re looking at will show up on an inspection report, but other issues could pop up to derail your purchase or kill your enjoyment of the home once it belongs to you. A lot of the time, that has to do with the neighborhood.

That could mean a commercial area too close to home, a rundown house across the street, or some zoning changes that are bringing a ton of new multi-family units to the area and increasing traffic. Whatever it is that’s bothering you, think it through. You can always fix your home, but you can’t change the neighborhood.

Buyer mistake No. 6: Not thinking long term

Maybe you think you’ll only be in this “starter home” for two years, and, therefore, the neighborhood isn’t all that important. As long as the house meets your approval, you’re good, right? According to a study by ValuePenguin, “the median duration of homeownership in the U.S. is 13.3 years.” That varies depending on the location, however, of the 20 largest U.S. cities studied, the lowest median was 9.7 years in Denver.

Does that mean you’ll stay in this home for 10 years or more? Who knows. But if you’re a young couple planning to have kids in the next three-to-five years, let’s say, it wouldn’t hurt to make sure the home you buy now can accommodate that lifestyle change.

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Investors Are Buying More of the U.S. Housing Market Than Ever Before

July 7, 2019 by cdiez Leave a Comment

Laura Kusisto writing for the Wall Street Journal gives us a housing investor update. It seems that there is always a way to capitalize on real estate.

The share of investor purchases of U.S. homes have climbed to an all-time high, a sign that rising home prices have done little to dampen demand for flipping homes or turning them into single-family rentals.

Big private-equity firms, real-estate speculators and others that buy properties comprised more than 11% of U.S. home purchasers in 2018, according to data released on Thursday by CoreLogic Inc.

The investor purchases are the highest on record and nearly twice the levels before the 2008 housing crash. The investor interest poses a challenge for millennials and other first-time buyers who are increasingly looking to buy starter homes and are forced to compete with deep-pocketed cash buyers.

Big commercial property owners like Blackstone Group LP and Starwood Capital Group began buying thousands of homes out of foreclosure during the housing bust. Many economists credit investors with helping to stabilize the housing market in 2011 and 2012 by buying with cash when prices were low and mortgage credit froze.

But analysts expected those purchases to slow, as the market rebounded and properties could no longer be had for fire-sale prices.

Instead, demand for properties has intensified. While these purchases dipped slightly when the market started to recover in 2015 and 2016, they have rebounded to surpass the previous peak of six years ago.

Strong rental demand, technology that facilitates buying homes online and low interest rates that make other investments less appealing have fueled investor appetite.

Investors are an especially powerful force at the bottom of the market, where they often pay all cash. Investors purchased one in five homes in the bottom third price range in 2018, according to the CoreLogic analysis, up 5 percentage points from the 20-year average of less than 15%.

“These are the homes that first-time home buyers would logically be buying,” said Ralph McLaughlin, deputy chief economist at CoreLogic.

Shane Parker, a real-estate agent in metropolitan Detroit, said first-time buyers he works with are struggling to win bidding wars against out-of-state buyers. The locals he works with are becoming more aggressive, putting in escalation clauses and agreeing to pay the difference if properties don’t appraise.

One of his clients, Michael Burnett, a tech writer in Detroit, and his wife are looking for their first home so they can have a treehouse for their young girls. They have visited 25 properties and bid on half a dozen but keep losing out to cash buyers.

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2019’s Housing Market Is Likely to Be Stronger Than We Thought

May 10, 2019 by cdiez Leave a Comment

Clare Trepasso writing for Realtor.com has insight on what will be a great housing market for the rest of 2019.

Despite a real estate slowdown gripping the nation, this year’s housing market is expected to be busier than realtor.com® economists originally predicted late last year. That means more home sales—and higher prices—are on the way.

The anticipated uptick in activity is due to lower mortgage rates, which make homes more affordable for buyers. The economic team expected rates to climb to 5.5% in 2019, but instead, they have hovered around 4%. (They were 4.17% on 30-year, fixed-rate mortgages as of April 18, according to Freddie Mac data.) Economists say rates are now likely to rise a little to 4.5%, still well below what buyers were dreading.

However, it’ll be nothing like the feeding frenzy of recent years.

“It’s still going to be a lukewarm year for the housing market,” says Chief Economist Danielle Hale of realtor.com. “We’re going to see higher prices and slightly higher home sales than we expected. But home sales are still going to decline slightly as a result of the housing slowdown. There’s a gap between what sellers are looking for and buyers are hoping to pay.”

The downside for buyers—and upside for sellers—is that prices are expected to rise more than Hale’s team originally forecast, going up 2.9% in 2019 instead of 2.2%. That’s because the swelling ranks of buyers motivated by those lower mortgage rates will increase demand—and therefore prices.

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